© Reuters. FILE PHOTO: The logo for AstraZeneca is seen outside its North America headquarters in Wilmington, Delaware, U.S., March 22, 2021. REUTERS/Rachel Wisniewski
(Reuters) -AstraZeneca’s $39 billion buyout of U.S.-based rare diseases business Alexion (NASDAQ:) is expected to close next week as Britain’s competition watchdog cleared the deal on Wednesday.
The merger, which will beef up the AstraZeneca (NASDAQ:)’s line of cancer medicines, is expected to close on July 21, the drugmaker, a major COVID-19 vaccine producer, said.
The Competition and Markets Authority began a review of the deal in May to check if that could reduce competition in Britain or other markets.
It decided not to initiate a broader probe into the deal following its initial assessment. The clearance follows that from Europe earlier this month.
“We are very pleased to have secured this critical final clearance,” said finance chief Marc Dunoyer.
A management shake-up at AstraZeneca following the completion of the merger is expected.
The Anglo-Swedish drugmaker had said it would move Dunoyer to head Alexion, while Aradhana Sarin will move in the opposite direction to be AstraZeneca’s finance head.
The drugmaker said it plans to give updated 2021 outlook for the combined company “in due course”.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.